Online dollar changer?

Could you use such a site?

[zelator777]

Hi,
Imagine the situation in which you find a site with good looking content,even with advertising from "ads by google" and "powered by ebay"...the site is funcioning like an ONLINE CHANGE BURO...to say...you
send the site money in dollars and it sends you back the converted sum in euro to your home address several days after your deal with the site.
So the main advantage of the site is that it has a GREAT COURSE...the dollar is a little more expensive then in common real banks,so...my question is:

Could you for some reason change money in well advertised site if you see very good curency course?

Thanks alot!

[vabtz]

nope
not unless a friend vouched for it or it was launced by a major.

[jomaxx]

Seems like a high risk (100% of your capital) for a fairly small return (maybe 1% benefit). Plus who wants to wait several days? By the time you get the money, the rates could have shifted and you could end up with less than if you had exchanged the money that morning at a local bank.

[Zygoot]

We already got banks for this job.

I would never use an online currency exchange site.

[zelator777]

Yes,Zygoot
But as I said "if the course is bigger"....
You will earn using such a site,in banks you can either win or loose depending on the day,that's can be the main advantage of such a site,like in ebay everything is very cheap and there is much things to choose from,the same in this case,not only "comfort" in front of your computer,but just EARN doing this,and if the course is 10% or much higher then in common banks it makes sense,if you ask me :)

[jomaxx]

If by "course" you mean the cost built into the exchange rate the bank pays, then for Western banks it is going to be far less than 10%. For a one-way exchange it will be maybe a couple of percent.